A sum of money is shared between two friends, Jack and Sam, in the ratio 2:3. Sam received $1500. Calculate the total amount of money shared between them.

Answer 1

Let the amount of money Jack received be 2x and the amount of money Sam received be 3x.

Since Sam received $1500, we can set up the equation:
3x = 1500
x = 500

Therefore, Jack received 2*500 = $1000.

The total amount of money shared between them is:
$1000 + $1500 = $2500.

So, the total amount of money shared between Jack and Sam is $2500.